I am the registered owner of a freehold house in Oakley but still pay rent, why is this and what is this?
It’s unusual for properties in Oakley and has limited impact for conveyancing in Oakley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a residence in Oakley? or Apparently there is a law dating back centuries that could mean that owners of property living in a parish church boundary may be liable to pay for maintenance to the chancel within the church. Is this a legitimate concern for conveyancing in Oakley?
Unless a prior purchase of the premises completed post 12 October 2013 you could take it that solicitors carrying out conveyancing in Oakley to remain recommending a chancel search and or chancel repair liability insurance.
I used Action Conveyancing several years ago for my conveyancing in Oakley. Now, I need the files however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Oakley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £195,000 and found one round the corner in Oakley I like with open areas and station in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Oakley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Do I need to be concerned by estate agents that I am dealing with are recommending an online conveyancing firm as opposed to a local Oakley conveyancing firm?
As is the case with many service providers, often referrals from relatives can be worth their weight in gold. But there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders may suggest conveyancers to use. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the recommendation. You are free to choose your own conveyancer. However, bear in mind that the majority of lenders specify a panel list of law firms you must use for the lender related work in your home move.
What advice can you give us when it comes to finding a Oakley conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Oakley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Oakley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
Can they put you in touch with clients in Oakley who can give a testimonial? What are the legal fees for lease extension work?
Oakley Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
In the main the cost for major works are not built into the service charges, although there some managing agents in Oakley obliged tenants to contribute towards a reserve fund and this is used to offset against larger works. Make sure you enquire if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Oakley. If you like the flatin Oakley but your dog is not allowed to live with you then you will be faced difficult compromise. What prohibitions are there in the Oakley Lease?